Government assures support to services exporters to realise full potential

The government on Wednesday assured services exporters that necessary support will be extended to remove constraints and realise the full potential of the sector.

The issues of the sector were discussed during a day-long session on services exports, which was organised by the Department of Commerce.

Some of the key suggestions that were highlighted include seeking better market access in free trade pacts, branding, promotion through road shows, standard setting, robust mechanism for reporting of data, skilling and addressing regulatory bottlenecks.

Incentive schemes for specific sectors to boost exports were also requested by the industry participants, the commerce ministry said in a statement.

Commerce Secretary BVR Subrahmanyam "assured the participants that necessary Government support would be extended to realise the full potential of service sectors and to remove any constraints in this regard," it noted.

The session was attended by about 100 participants representing various service sectors, including information technology, communications, entertainment, audiovisual, tourism, education, accounting and finance.

Services Export Promotion Council (SEPC) is hopeful of achieving the USD 300 billion exports target for 2022-23.
In 2021-22, it was USD 254 billion.

Services exports have increased to USD 71 billion during April-June this fiscal against USD 56. 22 billion in the same quarter last year, according to the council's data.